Shun Tak, the holding company of Macau gaming and gambling magnate Dr Stanley Ho, said Tuesday that in 2007 it had posted a net profit of US$128 million, which was a rise of 52.7 percent against 2006, a year in which profit totalled US$85 million.

Shun Tak, which has interests in the sea and air transport, hotel and real estate sectors, also said that the number of passengers carried on the Hong Kong-Macau route was 14 million, which was a year-on-year rise of 15 percent.

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Posted in Macau Casino, STDM | SJM No Comments »

The governments of Hong Kong, Guangdong, and Macau yesterday endorsed the financing scheme for bridges linking the three places and the massive project will soon proceed to public tenders. Macau’s casino magnate Dr Stanley Ho has said that he is interested in bidding for the project.

It is expected a number of state- owned enterprises will play a major role in building the bridges expected to cost between US$4-5 billion. The Hong Kong listed China Communication Construction Company and China Railway have a long history in building infrastructure projects in the mainland, Hong Kong and overseas.

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Posted in Development, Infrastructure, Macau Business, Macau General, Macau Government, STDM | SJM, Social and Politics, Stanley Ho 1 Comment »

SJM, which operates 18 of Macau’s 28 casinos, has been trying to list it’s IPO with aims to raise US$1 billion by selling a 25 percent stake. SJM, which once had a monopoly on Macau gambling, accounted for 42 percent of the territory’s gaming revenue at the end of last year. This percentage is expected to drop to around 20 percent next year, apparently during the first two weeks of 2008 SJM’s share has reportedly dropped to 31 percent. On top of this profit for 2007 is expected to have fallen about 50 percent to US$156 million, down from US$312.5 million a year earlier, this surely must hurt them!

So where does this leave Dr Stanley Ho’s empire, well SJM/STDM has plans to over the next three years to spend more than US$1.4 billion on six new projects. This investment compared to what Galaxy, Melco PBL, Las Vegas Sands and Wynn are spending on their casinos is really peanuts! Please tell me more! »

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As we have been saying here all along, for the umpteemed time Stanley Ho cannot list his company without Winnie’s blessing (see: Stanley to Try Listing Again) as evidenced yesterday whereby the Hong Kong regulators again delayed the listing. So he better start to get her shares dispute sorted as this SJM IPO will never happen without it being resolved.

His siter Winnie Ho has waged a legal campaign, launching no fewer than 30 lawsuits against her brother since 2001 to reclaim ownership of a 7.3% stake in the holding company. She moved last week to seek judicial review to overturn a regulatory decision early this month to allow the IPO to go ahead.

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Posted in Macau Business, Macau Casino, STDM | SJM, Stanley Ho, Winnie Ho No Comments »

Sociedade de Jogos de Macau (SJM), partly owned by gaming tycoon Stanley Ho, will start marketing in Hong Kong this week its planned initial public offering of up to 1 billion US dollars worth of shares. SJM plans to offer 1.25 billion new shares, representing about 25 percent of its enlarged share capital.

Deutsche Bank is managing the IPO. And of the shares on offer, 85 percent will be sold to institutional investors, 5 percent to employees and 10 percent to the public.

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Posted in Economy & Business, Macau Gaming, Macau General, STDM | SJM, Stanley Ho, Winnie Ho No Comments »

SJM’s CEO Stanley Ho guaranteed that the very first building of Hotel Lisboa will be maintained, while local historians appealed to him to consider carefully over the Hotel Lisboa demolition plan, as reported by blogmacau info.

Ho admitted that the Hotel Lisboa, inaugurated in 1970, is more like a ‘cultural relics’ to many people. The design of the complex like a bird’s cage is also connected with the principles of Fong Shui, and so it will be maintained.

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After just celebrating his 88th birthday, it seems that Stanley Ho once again tries to push his long awaited Hong Kong listing. His biggest stumbling block will be his disgruntled and estranged sister Winnie Ho, who has managed so far to stop Stanley Ho from listing his casino empire. Unless he resolves his long running STDM shareholding dispute over US$385 million with her (Another Stanley and Winnie Ho Round)  we cannot see a SJM IPO listing in the foreseeable future soon.

Obviously, he needs the cash to fund his long awaited Oceanus project and spruce up his aging casino empire which are long overdue for refurbishment in the now fiercely competitive Macau casino market.

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Posted in Macau Business, Macau Casino, STDM | SJM, Stanley Ho, Winnie Ho No Comments »

Macau billionaire Stanley Ho paid a record $330,000 for a white truffle at a charity auction, beating competing bids from the U.K. artist Damien Hirst and Sheik Mansoor Bin Zayed al Nahyan of Abu Dhabi, the organizers said.

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Posted in Grand Lisboa, Macau Business, STDM | SJM, Stanley Ho No Comments »